Bitfarms Ltd (BITF)

[cottonmather]

FYI. I traded BIFT/BIFS in its glory days and made a lot of money. Then one day I slowed long enough to read about product demos in Myrtle Beach. Two other traders and myself went to South Carolina for a SWAMI demo.

We met with Jay Knabb and rode around with a laptop running a browser and a television channel at the same time without a blink at T1 speeds. We went atop a beach hotel and examined a tower claimed to be a SWAMI transmitter. Upon getting back to the office we all asked questions. We were assured Paul Allen was coming to Myrtle Beach the following Wednesday to finish the deal for a national rollout in concert with the Canadian cable giant. We believed the BS and I kept a $17,000 position knowing I was about to hit a homerun. Nothing ever materialized. He was manipulating the stock.

I heard a story where Jay Knabb was captured in his boat offshore South Carolina by two men who made him go overboard and towed his boat away. He survived.

Knabb then went to Texas and later to California where he was caught manipulating another communications company stock and went to prison. That was around 2006 or so. I have not heard anything more about Knabb.

An engineer who worked for BIFS was said to admit the only reason SWAMI fooled people on demos was all the signal repeaters and bridges strung along the demo route........ something Radio Shack would be able to assemble. In a practical national application, the configuration was laughable - a con job.

My advice.......... INVEST in legit companies - none of these OTC phonies. It is too easy to get fooled.

Good luck,

e